Common use of Statement of Intent of Parties Clause in Contracts

Statement of Intent of Parties. It is the present intent of WPHC and Feld to jointly develop the Project as the second phase leading to xxx eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's interest in or outlook on future phases, no specific provisixx xx made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this Operating Agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. The Members acknowledge that Feld has diligently pursued the purchase of the Land and the develoxxxxt plan of the Land for a significant period and has agreed to WPHC's assumption of the Land Contract due to and in consideration of WPHC's and WRPT's financial commitment to the transaction. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRPT's and Feld's present intent that Feld continue as development partner. Nxxxxxxstanding the foregoinx xxatement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.

Statement of Intent of Parties. It is the present intent of WPHC and Feld Xxxx to jointly develop the Project and the Infrastructure as the second an initial phase leading to xxx the eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's Xxxx'x interest in or outlook on future phases, no specific provisixx xx provision is made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this Operating Agreement operating agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. The Members acknowledge that Feld Xxxx has diligently pursued the purchase of the Land and the develoxxxxt development plan of the Land for a significant period and has agreed to WPHC's assumption of the Land Contract due to and in consideration of WPHC's and WRPT's financial commitment to the transaction. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRPT's and Feld's Xxxx'x present intent that Feld Xxxx continue as development partner. Nxxxxxxstanding Notwithstanding the foregoinx xxatement foregoing statement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.

Statement of Intent of Parties. It is the present intent of WPHC and Feld Xxxx to jointly develop the Project as the second phase leading to xxx the eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's Xxxx'x interest in or outlook on future phases, no specific provisixx xx provision is made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this Operating Agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. The Members acknowledge that Feld Xxxx has diligently pursued the purchase of the Land and the develoxxxxt development plan of the Land for a significant period and has agreed to WPHC's assumption of the Land Contract due to and in consideration of WPHC's and WRPT's financial commitment to the transaction. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRPT's and Feld's Xxxx'x present intent that Feld Xxxx continue as development partner. Nxxxxxxstanding Notwithstanding the foregoinx xxatement foregoing statement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.

Statement of Intent of Parties. It is the present intent of WPHC and Feld to jointly develop the Project Proxxxx and the Infrastructure as the second an initial phase leading to xxx the eventual development of the Master Development. Due to the changes that may take place in the capital and real estate markets and other events, unknown at this time, which may alter either WPHC's or Feld's interest in or outlook on future ox xxxxre phases, no specific provisixx xx provision is made in this Agreement in regard to future phases. It is the present intent of the parties to use the basic economic and transaction structure of this Operating Agreement operating agreement on future phases. However, either party may require changes or elect not to participate in the joint development of future phases. The Members acknowledge that Feld has diligently pursued the purchase xxxchase of the Land and the develoxxxxt development plan of the Land for a significant period and has agreed to WPHC's assumption of the Land Contract due to and in consideration of WPHC's and WRPT's financial commitment to the transaction. It is imperative to WPHC that it control the future of this development in regard to all issues, including timing, cost, design, etc. While this control is absolute, it is WRPT's and Feld's present intent that Feld Xxxx continue as development partnerxxxtner. Nxxxxxxstanding Notwithstanding the foregoinx xxatement foregoing statement of intent, the provisions of this Agreement and related documents governing the duties and relationships among the parties shall control over the foregoing statement of intent and neither party shall have any obligation, express or implied, to jointly develop another phase of the Master Development with the other party.